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Published on: February 14, 2014
Interpreting changes in the economic status of the elderly, 1949-1979
Contemporary Policy Issues
|April 1, 1987
Summary
Economic well-being among U.S. elderly cohorts improved over time. However, retirement and widowhood were linked to income decreases, though overall economic status generally rose with age.
Area of Science:
- Gerontology
- Economics
- Sociology
Background:
- The economic status of older adults is a critical area of study for social policy and individual financial planning.
- Understanding long-term trends in elderly economic well-being is essential for assessing the impact of societal and economic changes.
Purpose of the Study:
- To analyze longitudinal changes in the economic well-being of elderly populations in the United States.
- To identify factors associated with changes in economic status across different elderly cohorts.
Main Methods:
- Analysis of U.S. Decennial Census data from 1950 to 1980.
- Examination of economic well-being trends across successive elderly cohorts.
- Statistical control for variables including sex, labor force participation, and marital status.
Main Results:
- Each successive elderly cohort exhibited higher average economic status than the preceding one.
- Retirement for both men and women, and widowhood for women, were associated with decreased income.
- After controlling for key demographic and economic factors, elderly individuals generally experienced improved economic well-being as they aged.
Conclusions:
- Despite specific life events impacting income, the overall economic trajectory for elderly cohorts in the U.S. showed significant improvement from 1950 to 1980.
- Policy and social support systems may have contributed to the observed gains in elderly economic status over this period.
Keywords:
AdultAge FactorsAgedAmericasCohort AnalysisComparative StudiesDemographic FactorsDeveloped CountriesDeveloping CountriesEconomic FactorsEmployment StatusIncome--changesMarital StatusMicroeconomic FactorsNorth AmericaNorthern AmericaNuptialityOld Age SecurityPopulationPopulation CharacteristicsRetirementSocioeconomic FactorsSocioeconomic Status--changesUnited StatesWidowed
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